Alabama adopts fair value in divorce, under broader equitable standard
Grelier v. Grelier, 2009 WL 5149267 (Ala. Civ. App.)(Dec. 30, 2009) In what could serve as precedent for states that now apply the broad, equitable standard for valuing businesses in divorce, the Alabama Court of Appeals considered a case in which the husband owned a minority (25%) interest in several closely held, commercial property development [...]
Another big taxpayer victory: Federal court accepts appraiser’s 35% combined discounts for 94% family LP interest
The Murphy Oil Corp. grew from a small, family owned business into a multinational conglomerate, with over $2 billion in market cap. During the 1990s, the CEO and son of the founder set out to preserve his holdings and his investment philosophy for the benefit of his children. He formed a family limited partnership (FLP [...]
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